On April 15th, Jinzai Food Group Co., Ltd. (hereinafter referred to as "Jinzai Food") held its 2024 annual shareholders' meeting in Changsha, Hunan. The founder and chairman of the company, Zhou Jinsong, said, "The company will continue to promote its health single product strategy. High quality protein health categories such as leisure fish products, poultry products, and soy products have shown good growth momentum. The revenue and net profit of fist products such as Jinzai deep-sea anchovy, seven doctoral quail eggs, and Zhou Xianxian Pingjiang dried sauce have all increased significantly. Starting this year, we will implement a new round of three-year shareholder return plan to continue to repay our investors

According to annual report data, in 2024, Jinzai Food achieved a revenue of 2.412 billion yuan, a year-on-year increase of 16.79%; Realize a net profit attributable to shareholders of the listed company of 291 million yuan, a year-on-year increase of 39.01%; The net profit attributable to shareholders of the listed company after deducting non recurring gains and losses was 261 million yuan, a year-on-year increase of 39.91%. The company's operational quality continues to improve, and this growth is attributed to the company's focus on a healthy single product strategy, with progress in product innovation, market expansion, and channel optimization.

On site, an investor affirmed the company's implementation of a healthy single product strategy: "The leisure snack industry is a low threshold and fiercely competitive industry, but your company has adopted a strategy of focusing on healthy single products, successfully cultivating explosive single products with annual sales exceeding 1.5 billion yuan, quickly establishing its own moat, and forming a good market brand effect

Regarding this, Zhou Jinsong said, "Although the competition in the leisure snack industry is fierce, there is still a lot of room for top companies to increase their market share. If we follow the path of 'planting widely but collecting little, casting nets everywhere', it is difficult to make our own characteristics. To do a good job in the strategy of large orders, product competitiveness is the key factor

The Securities Daily reporter learned that the company will launch multiple industry-leading new products in 2024. To enhance the core competitiveness of our products, the company relies on multiple research platforms such as the Postdoctoral Innovation and Entrepreneurship Base, Doctoral Innovation Station, and Hunan Health and Leisure Food Engineering Technology Center to create a research highland for healthy snacks. Focusing on health research and development directions such as "three zeros", "three reductions", and "rich nutrients", we continuously innovate and lead the high-quality and healthy development of our product categories.

Zhou Jinsong said, "Consumers nowadays generally have a high level of education, not only value price, but also value quality, and know how to evaluate the health level of products from their formula and material lists. We adopt a healthy single product strategy, deeply rooted in the competitiveness of our products in the market soil, in order to thrive in the wind and rain of the market

It is precisely because Jinzai Food has invested manpower, material resources, and financial resources in multiple health products that multiple products have gained recognition from sales channels. In 2024, the snack specialty channel will become a new growth point for offline channels. The company has cooperated with over 100 snack specialty systems such as Snack Busy, Zhao Yiming, and Xiangxianglai, covering more than 35000 terminal stores. The annual revenue of this sales channel has increased by over 100% year-on-year.

Product competitiveness not only brings recognition and support from sales channels, but also translates into tangible real money and silver, and continues to reward investors. The shareholders' meeting has approved the dividend plan and plans to distribute 3 yuan (including tax) in cash for every 10 shares. Adding the previous mid year dividends, the company's dividend amount for 2024 will reach 179 million yuan, accounting for 61% of the net profit attributable to shareholders of the listed company. It is worth mentioning that at this shareholders' meeting, Jinzai Food also passed the proposal of "Shareholder Dividend Return Plan for the Next Three Years (2025-2027)", and is willing to share development dividends with the majority of shareholders.

Dong Mifeng Wenji from Jinzai Food told Securities Daily reporters, "In the next three years, if the company's distributable profits are positive and there are no major investment plans or cash payments, the company will distribute no less than 20% of the distributable profits realized in cash each year. In recent years, we have maintained high dividends, with the annual dividend amount accounting for more than 60% of the net profit attributable to shareholders of the listed company. The 20% dividend in the next three years is only the lower limit. We will continue to repay investors with high-quality growth and high proportion dividends

According to the Oriental Fortune Choice terminal, Jinzai Food has accumulated dividends of over 590 million yuan since its listing in 2020, which is 368.75% of the 160 million yuan raised in the IPO.